grey market

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Gray Market

Trade using unofficial and unregulated, but still legal, means. In securities, a gray market typically refers to trade in bonds or stocks not yet issued. These sales are contingent upon the issuance actually taking place, and are sometimes considered benchmarks for how successful the issuance will be. Another example of a gray market is the pharmaceuticals industry, in which buyers in different countries sometimes pay very different amounts. Buyers in the more expensive country may travel to the other country to buy their medicines, creating a gray market.

grey market

an ‘unofficial’ market in newly issued shares prior to their being formally listed and traded on the STOCK EXCHANGE. See SHARE ISSUE.
References in periodicals archive ?
This is one of the first surveys in which new statistical methods are used to assess the gray economy.
Table 2 reports estimates of the size of the gray economy in a sample of transition economies and provides summary data to permit international comparisons.
When we take steps to bring gray economy into the light, we still have to find the balance between stimulating the economically active entities and the restrictions being undertaken to reduce the gray economy, fight smuggling and raise budget revenues, Menda Stoyanova, Chair of the Budget and Finance Committee said.
One of the agenda items of the session was related to the review of implementation of measures from the Action Plan to combat the gray economy.
Thus, Bulgaria's gray economy is estimated to be 32.
The additional revenues have been logged without an increase of the excise tax, which means that either the number of smokers and smoking have increased or the gray economy and the black market have shrunk, according to the Customs.
If we have to choose between gray economy and no economy, Bulgaria is definitely better off having gray economy," Minister Traicho Traikov told the morning broadcast of bTV channel on Wednesday.
Experts from AIC recommend the cabinet eliminates immediately its debt to the business and applying the idea of the European Commission for unified tax base in the European Union, which will lower corporate tax in Bulgaria, as ways to counter the gray economy.
Amounts exceeding BGN 15 000 must be paid only through bank transfers, the MPs decided in a bid to prevent VAT frauds and unregulated salary payments in the gray economy.
The measure has been deemed by some of the GERB MPs as ineffective as far as restricting the gray economy goes.
The main argument was that this measure could VAT frauds and unregulated salary payments in the gray economy.
Dorosiev believes that the growth shows the Bulgarian market of second-hand cars has indicated that it is increasingly getting out of the gray economy, and offers the customers good-quality second hand vehicles.